Introduction to Economics
1. Does a junk trafficker subscribe to GDP? What environing a fine-antique trafficker? How? Why?
2. During the most novel recession—the so-called Great Recession—the United States council extensiond the aggregate of spell an specific was choice control unemployment advantages from a ultimatum of 26 weeks to a ultimatum of 99 weeks. How is this likely to shift the incentives oppositeness the inactive? (To be choice control unemployment advantages, undivided must be “looking control work” and not attributable attributable attributable feel refused “suitable work”) What faculty this do to the unemployment rate measured in the administration in public?
3. Today, most of our monetary transactions are dundivided with tractile or via bank apps, integral of which are amply tracked. Even underhandedness vendors at smintegral town festivals conservation apps on their quick phones and tablets to recognize cashless payments. Some reason that developed bills and coins are no longer expedient in today’s earth ate in cases where unfair pi and services are substance exchanged. Do you consent or disconsent with this? Could our fellowship be cashless? How could you produce your niece $25 control her birthday? What behaviors would feel to shift control that to supervene? Who would combat, and why? Who would advantage? What would the risks and/or rewards be of be cashless?
4. Adam Smith complained in The Lucre of Nations that multifarious fellow-creatures promiscuous currency with lucre. Is this considerate?
A. Doesn’t a person’s lucre extension when he or she acquires over currency?
B. If any undivided person’s lucre extensions when he or she acquires over currency, doesn’t it flourish logically that over currency control everyundivided instrument over lucre control everyone?
C. What would bechance if the council of India tackled the whole of want by printing over rupees and distributing them generously to the poorest fellow-creatures in the country?
Total of 1200 expression mean.